A breakdown of your relationship and the decision to end your marriage can lead to a series of emotionally taxing events. Not only will you be grappling with stress and runaway emotions, but you also need to step up and make crucial decisions regarding the division of marital property.
Instead of heading to court and leaving the division of your heard-earned marital property to the judge, you can opt to settle the matter amicably through divorce mediation. But how do you make this work?
Understanding how to mediate property division
Mediation is an alternative divorce dissolution process where an independent and neutral third party helps the divorcing parties reach a settlement on various aspects of the divorce like property division. This third party is known as a divorce mediator and their primary job involves assisting the couple to reach a settlement that is not only acceptable to both parties but to the court as well.
Here are some of the reasons why you might want to mediate your property division process rather than going to court.
- Mediation is relatively a quicker process compared to litigation. Unlike the court process which is dependent on a number of factors like the court’s calendar, mediation can take anything from a couple of days to a few weeks to conclude.
- Mediation costs are generally lower than litigation. Thus, if you are in a financial fix, this can be the best option to settle things and move on with your lives.
- Mediation offers confidentiality. This makes it ideal for high net-worth couples or those who mind their privacy.
Property division can be a hugely complicated and contentious process. Mediation can help you resolve this and other aspects of your divorce and restart your life.